AZERENERJI TO SET UP CONSTRUCTION OF SUBSTATION IN KHACHMAZ IN 2006
Azerenerji JSC intends to set up the construction of the 330/110 KW substation in Khachmaz in 2006, the JSC told Trend. By the end of the year the company plans to define a consultant of the project and develop document of announcement of a tender for selection of a contractor.
On 1 September the Azerbaijani President adopted an agreement on the approval of a credit by the Islamic Bank for Development (IBD) for the construction of a substation in Khachmaz.
The Azerbaijani parliament adopted a $13,508m credit agreement on 1 September. The implementation of the project will enable to improve energy supply to the northern regions with population of 500,000. The IDB loan will be allotted for 12 years with 6% rates.
The IBD also voiced its readiness to approve funds for the construction of high-
voltage electricity lines Yashma-Derbent ($25m).
The construction of the second 330KW of electricity transmission line (ETL) Yashma (Azerbaijan) вЂ" Derbent (Russia), the construction of a new 330/110/10 KW substation in Khachmaz,which will enable energy exchange with Russia, was reflected in the State Program on the Development of Fuel & Energy Complex of Azerbaijan in 2005-2015.
An agreement on approval of credit with 3-year grace period to Azerbaijan was reached during the Baku talks of Ahmet Mohammed Ali, the President of the IBD with the Azerbaijani government in December 2004.